This is the mind of an Elite Trader!!!!! We are so lucky to get blogs from elite traders and how they manage such super complex positions. This is exactly why most retail traders have zero skills before and after clicking buttons on a trading platform.
Great Depression 2 underway as of July 25, 2014
- Thread starter AfterLOS
- Start date
This is the mind of an Elite Trader!!!!! We are so lucky to get blogs from elite traders and how they manage such super complex positions. This is exactly why most retail traders have zero skills before and after clicking buttons on a trading platform.
FILLED ON BOTH.....and you almost BOUGHT THE HIGH!!!!
Now $5 lower....
get SIM stop ready!!!!
this is Elite-of-the-Elite signals
EliteTrader = Serendipity personified = AfterLos is in Heaven to be in the company of such magnificent traders who will be teaching him the fine ART of trading.
Thank you Lord
Yes, both filled
Yes I caught the high on the nanosecond chart.
Correct on both counts.
LOL did you just put down EliteTrader? Are you saying there are no profitable traders here?
AS for me, all I'm doing is fulfilling the scriptures, "the goal of the stock market is to make fools of as many men as possible" So far in Gold, I've done an excellent job in this regard.
Teach me, Your Excellency
AfterLOS:
On a weekly chart it seems that Gold fluctuates in a big symmetrical triangle. It must rebound quickly because we are testing support (green line in the graph). In this case, rebound should go near the resistance which is 1330 (red line). Moreover, we are at the end of the triangle (Apex).
But on the other hand, if we go below 1270... aie aie aie. Exit should be the best choice, as you know, losses must be cut fast.
Good luck with your trades.
On a weekly chart it seems that Gold fluctuates in a big symmetrical triangle. It must rebound quickly because we are testing support (green line in the graph). In this case, rebound should go near the resistance which is 1330 (red line). Moreover, we are at the end of the triangle (Apex).
But on the other hand, if we go below 1270... aie aie aie. Exit should be the best choice, as you know, losses must be cut fast.
Good luck with your trades.
Chris, thank you kindly for your analysis, much appreciated.
This triangle has been discussed earlier in this thread and the consensus is that the next move will be DOWN breaking out of the triangle as per the continuation pattern theory. I have accepted this as an outcome. Your triangle lower line is the same but have you noticed there is yet another trendline support right under it, this one starting from the 2008 low. Check it out - it appears to meet Price @ 1244 on the hard right edge. That then is one support I have my eye on
But my STOP is placed under June 3rd because I believe that is a reversal upwave - proven wrong only if STOP is taken out.